SyntheX Arbitrum Mainnet Launch

April 20 update – there have been no further announcements from the team regarding the launch, and only 1 post in the Discord chat since April 15. It is unclear if this is still happening.

Mainnet launch of a synthetic asset issuance and trading protocol on Arbitrum.

The launch time for this event has not been announced, only that it is on April 21. This time is a placeholder.

DETAILS

• Mechanics & Features
  • Trade crypto, stocks, commodities, forex synthetic assets
  • Users deposit collateral (e.g; USDC. ETH, WBTC) to borrow/mint synthetic tokens (e.g. cUSD, cBTC, cDOGE)
  • 100% debt collateralization ratio
  • When you mint synthetic tokens, you are allocated a share of the pool’s debt, and is dynamic based on the total debt of the pool
  • Users earn $esSYNX rewards by holding debt, which can be converted to $SYN at a 1:1 ratio
  • Synthetic tokens issued can be swapped, or used to yield farm to earn additional yield
  • In-built swap to trade between synthetic tokens
  • Users can redeem collateral by burning synthetic tokens
  • $SYN is the native token (not yet launched)
  • $SYN utility – participate in governance, receive share of protocol’s revenue
  • 30% of the protocol’s fees will be distributed to $SYN token holders
  • Roadmap features include perpetual trading with up to to 150 x leverage

• Tokenomics
  • Token symbol: $SYN
  • Total supply: 1,000,000,000
    • 3.3% — Pre-seed sale
    • 9% — Private round
    • 9% — Strategic round
    • 10% — Public sale
    • 30% — Ecosystem rewards
    • 20% — Treasury
    • 12% — Team
    • 4.2% — Ecosystem development
    • 3.5% — Advisors
    • 3% — Early strategic partner